Usury
Aren't there still laws against usury? It's hard to see 2000% upward APR rates as anything else. Rather than ban the firms like Wonga, just put a reasonable legal limit, maybe 100%, on the annual interest rate that any lender can charge, and maybe ban their TV advertsing (like they ban gambling ads). That will force the firms to police their own business.
Biting the hand that feeds IT
